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Quantum computing stocks diverge: Rigetti struggles with revenue drop, IonQ shows strong growth and backlog.

Market News
05 Jun 2026
24/7 Wall Street
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Neutral
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Rigetti Computing's revenue fell 34% in 2025, with Q1 2026 showing operational losses despite a GAAP net income boost from accounting adjustments. The company lacks clear revenue guidance and faces skepticism amid high valuation and insider stock sales. In contrast, IonQ reported a 755% revenue increase in Q1 2026, a $470 million backlog, and expanded enterprise contracts, positioning it as a more reliable quantum computing investment. Investors should watch IonQ's ability to convert backlog into revenue and Rigetti's efforts to grow organically to justify its valuation.

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